McLaren confirm Latifi link behind £200m investment

McLaren have confirmed a cash investment of £200 million has been made in the team by Michael Latifi, the Canadian businessman and father of F2 racer, Nicholas. The team say the move "significantly strengthens the group’s balance sheet and underpins its ambitious growth plans".

Racefans.net reported the deal over the weekend, and McLaren have confirmed that Latifi has made a significant investment into the team.

It is reported that Latifi's company Nidala Limited has purchased 888,135 shares in McLaren Group, costing £203.8million.

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Shaikh Mohammed bin Essa Al Khalifa, McLaren Group Executive Chairman, commented: "This injection of capital is a vote of confidence in our future strategy and the group remains as focused as ever in positioning for growth. We are delighted Michael Latifi has joined the McLaren family."

The company name Nidala is likely a portmanteau of his son's full name - Nicholas David Latifi.

Nicholas Latifi is currently serving as Force India's test driver and featured last week in Barcelona.

He has one podium finish to is name in this year's F2 championship, but has been largely outperformed by his DAMS team-mate Alexander Albon, who sits second in the championship after three rounds, behind McLaren junior driver Lando Norris.

It remains to be seen whether the cash will lead to Latifi taking a race seat at McLaren in the future, although their line-up for 2019 remains a mystery.

Fernando Alonso is yet to commit his future to F1, despite Brown's insistence that the Spaniard wants to remain.

Stoffel Vandoorne is reportedly fighting for his future after being outqualified and finishing behind Alonso at all five grands prix in 2018 so far. No other driver has been so comprehensively outperformed by his teammate this year.